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The Quantum Group Announces Completion of 1st Community Health
System in Support of Medicare Advantage Program
WELLINGTON, Fla., Feb. 14 /PRNewswire-FirstCall/ -- The Quantum Group, Inc.
(OTC:QTUM) (BULLETIN BOARD: QTUM) announced today that its subsidiary
Renaissance Health Systems of Florida has completed building its first fully
integrated Community Healthcare System (CHS). The CHS was completed in a
Central Florida county, at the request of a Managed Care Organization (MCO)
partner. This new CHS was designed specifically for the new Medicare Advantage
program in support of the Center for Medicare Services' (CMS) initiative to
provide more healthcare options to seniors.
"We are pleased that after extensive work by our staff, partners and
affiliates, we have successfully completed our first CHS, and are looking
forward to expanding to an additional six counties over the coming months,"
commented Noel J. Guillama, president of The Quantum Group. He further
remarked, "We are not only elated to have built this network, we are proud to
have affiliated with the best and brightest in our community."
Quantum, with its MCO partner, expects to begin offering a new Medicare
Advantage benefit package after government approval later this year. Once the
product is approved and marketing is commenced, the company anticipates that
this market has a $10,000,000 revenue potential in 2006.
A Community Health System is composed of a fully integrated network of
physicians, providers of ancillary care, hospitals and support organizations,
all in a limited geographic area to provide the best possible coordination of
care with efficiency. It also includes protocols, communications and technology
to help reduce redundancy, waste and ineffective care.
Through a news release on October 6, 2004, Health & Human Services (HHS)
Secretary Tommy G. Thompson announced, "The new Medicare Modernization law is
expanding healthcare for seniors and lowering their costs ... Under President
Bush's leadership, we are reversing a trend of seniors losing access to
Medicare Advantage plans each year to an environment where plans are expanding
coverage and lowering costs."
On December 8, 2003, President Bush signed into law the Medicare Prescription
Drug, Improvement and Modernization Act (MMA) of 2003. With the new enhanced
payments to manage care organization it has been estimated by the Center for
Medicare Services that the number of people enrolling in the Medicare Advantage
program will increase by 300% over the next 4 years.
The mission of Renaissance Health Systems (RHS), a division of the Quantum
family of companies, is to provide quality, proactive, and cost-effective
healthcare to our patients while simultaneously improving their quality of life
and lifestyle.
The Quantum Group, Inc. is a Wellington, Florida-based healthcare company,
providing outsourcing, technology-based solutions, government compliance,
education, policy consulting and venture management to the healthcare industry.
Quantum is currently involved in: outsourcing for physicians, managed care
organizations, healthcare facilities, and physician associations; developing
three patent-pending healthcare solutions identified as Cybernaptics(SM),
Quantum Quotient(SM) (or QX2(SM)) and MDAutomated(SM), all with the intention
to provide new efficiencies to the $1.79 trillion U.S. healthcare system; and
providing leading-edge healthcare services to consumers. The Quantum Group --
healthcare solutions for a new generation(SM).
Certain statements contained in this news release, which are not based on
historical facts, are forward-looking statements as the term is defined in the
Private Securities Litigation Reform Act of 1995, and are subject to
uncertainties and risks in part detailed in the respective company's Securities
and Exchange Commission 10-K, 10-Q, S-8 and 8-K filings, that may cause actual
results to materially differ from projections. Although the company believes
that its expectations are reasonable assumptions within the bounds of its
knowledge of its businesses and operations; there can be no assurance that
actual results will not differ materially from their expectations. Important
factors currently known to management that could cause actual results to differ
materially from those in forward-looking statements include the company's
ability to execute properly its new business model, to raise additional capital
to implement new business model, the ability to attract and retain personnel,
and the inherent risk associated with a diversified business to achieve
positive cash flow. In light of these risks and uncertainties, there can be no
assurance that the forward-looking information contained in this report will,
in fact, occur.
Media Contact:
Danielle Amodio
Director of Corporate Communications
The Quantum Group, Inc.
561.798.9800
DATASOURCE: The Quantum Group, Inc.
CONTACT: Media, Danielle Amodio, Director of Corporate Communications,
The Quantum Group, Inc., +1-561-798-9800
Web site: http://www.thequantumgroupinc.com/